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OPEC+ Continues to Turn Up the Oil Tap
The OPEC+ oil-producing countries, led by Saudi Arabia and Russia, have announced a further increase in their crude oil production. From October 2025, daily production will be increased by an additional 137,000 barrels (159 liters each). This move is part of a strategy aimed at gradually reversing previous production cuts and regaining market share.
The countries belonging to the OPEC+ oil-producing alliance want to pump even more crude oil into the market starting in October. / Picture: © Wikimedia Commons / DALIBRI / CC BY-SA (https://creativecommons.org/licenses/by-sa/3.0)
The meeting, attended virtually by the eight core members — Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman —took place in the OPEC headquarters in Vienna. The increase of 137,000 barrels per day is an adjustment to the voluntary production cuts of 1.65 million barrels announced in April 2023. The entire group had already agreed in…
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